Real Estate and the US Economy

For all its benefits, the newfound power of real estate has also left the country open and vulnerable to a massive housing crash. Residential housing now makes up 16 percent, or $1.9 trillion, of the gross domestic product and is the US economy's largest single sector, slightly bigger than the industries and services that supply health care, according to Economy.com. Given Real Estate’s influence over economic growth this is quite significant. What will happen if it all comes crashing back to earth. Here are some facts about the US Economic empire that may or may not put your mind at ease. About 50% of the world's 500 billionaires and a 30% of the 27 million millionaires call the United States home. Almost half of the largest companies and banks in the world are US and one third are from the European Union. Five of the top ten banks are US, six of the top ten pharmaceutical/biotech companies, four of the top ten telecommunications companies, seven of the top information technology companies, four of the top gas and oil companies, nine out of the top ten software companies, four of the top ten insurance companies and nine of the top ten general retail companies. The US dominates global weapons sales, exporting more than the next 14 countries combined - The US economy depends on a massive flow of funds from overseas investors to sustain its external deficit. In other words, as empire grows, the 'republic' goes into deeper crises, stripped of its competitive enterprises and unable to limit its consumer imports. Recently Oil prices have been under pressure as troubles in the US housing finance sector have heightened fears in world stock markets about the health of the economy in the United States, the world's biggest oil consumer. Investors are concerned that a growing number of mortgage defaults by higher-risk borrowers in the United States could hit the broader financial sector and have a negative effect on consumer confidence. The big question mark is about the US economy and worries over the housing industry because that will have a big impact on consumer demand, which may affect oil consumption. The green currency lost 1.5 percent compared to the euro, which at the end of the week was trading at 1.3312 dollars. The financial markets are nervous about the ever growing problems on the US market of home loans and housing, which was supported by the ex governor of the American Central Bank, Alan Greenspan, warning on Thursday that problems in the sectors of home loans could extend to other sectors. The question remains does the upside outweigh the downside and who are we going to take down with us if things go badly? The USA is not the only economy in the world right now with record consumer debt levels and an inflated real-estate sector.

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source: fastrealestate.net

For Sale By Owner

I was asked the other day via email why we allow FSBO on our site - The agent in question seemed to be irritated by the fact that owners should want to save a commission and that as we offered the service on the site then we were in fact diluting the listings pool and taking money out of his pocket. Having worked as an agent I never had a problem with owners that wanted to take on the role of sales person for a day or a week or however long. What I did find was a good source of listings from owners that I would contact every Monday morning from the FSBO ads in the Saturday newspaper. You don't get them on the first attempt but you do get a chance to make contact and perhaps even drop off a card and talk to them about market conditions. No agent sells every home they list and it is much the same for private sellers, they don't always succeed and it is often the agent who stays close that makes the sale in the end. FSBO has it's place and it works for some and not for others, once a seller has tried their hand at selling their own home they often become the very best clients because they have a working first hand knowledge of what the job involves. Agents who feel threatened by FSBO should look to see the opportunity that it offers and look for ways to work with people who are willing to take on the role of an agent. Real estate is about relationships and today's private seller might be tomorrows commission check. If owners need to sell and find they cant sell then chances are the first person they are going to call is an agent.

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source: fastrealestate.net

9455 N Boulder Pass Prescott, AZ 86305

The home offers a unique and carefully planned design for entertaining. The attractive wet bar provides a central focus as it is surrounded by the Dining Room, the Great Room, the Kitchen and a Butler’s Pantry! The large butler’s pantry is perfectly positioned for serving guests in the spectacular formal dining room with fireplace and courtyard views. Use the sunny breakfast dining room for casual dining. Numerous windows allow the outdoors inside. Be sure not to miss the unique powder room with its arched window overlooking the enclosed courtyard. The glass doors off the great room lead to the private covered porches spacious enough for large groups. A gourmet kitchen beyond your dreams offers these amenities: granite counters, walls of windows, knotty alder cabinets with gentle distressing; (Drawers are an extra 6 inches deeper); a large granite center work island with second sink, Viking professional range with 6 burners and a grill, double self cleaning ovens, Sub-zero refrigerator, quiet Asko dishwasher and so much more All of this to delight the chef of the house. There is a master suite next to the library/study; perfect for year around enjoyment and relaxation. On cool days you will enjoy the warmth of the fireplace while on summer days you will enjoy the courtyard with all the desert blooms it has to offer, perfect for those quiet times. The unforgettable master suite is a private sanctuary with beautiful windows and personal patio. The massive rock out cropping outside enhances the views. The large master bath and dressing area has been carefully designed with built-in spa, large walk in shower and plenty of walk in closet space. Perfectly situated adjacent to the master suite is a laundry room. The opposite wing of this fabulous home features two resort like guest quarters with private baths sure to welcome your most discriminating guests. Just off the second guest suite is an exercise room with private access that has been plumbed for conversion to a kitchen if you chose; perfect for mother-in-law quarters. There is a second laundry room or guest office/library located in the guest wing. You cannot overlook the breathtaking views from all directions as you enjoy touring this spectacular estate.

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source: fastrealestate.net

How to rent with bad credit.

Things you need to know, these tips might help you find a place to rent if you have a bad credit rating - Firstly obtain a copy of your credit report so that you know exactly what your credit situation is. Then you need to write a letter to explain the negatives outlined in the credit report. A landlord may be more willing to rent to you if you can explain your situation in detail - bad credit has many causes. You can offer a larger deposit if you have one available, this will alter the risk profile of the transaction. You can offer over and above the rent they are asking, again money talks. Try to find a person to co-sign your rental or lease agreement. Provide references who can and will vouch for your credibility. If you can make an offer to a landlord to inspect the property you are currently renting and always present yourself in the best possible manner. Dress well and speak well and if you have a willing employer get them to vouch for you, a good stable job is going to help you ini search for a willing landlord in this situation. It's not impossible to find a retal with a bad credit record it's just harder so you may need to think outside the square more - think of the people you know who might know a friend of a friend who has a rental property - search the net and scour the papers as you may have to look harder and longer.

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source: fastrealestate.net

Bad Credit Buying A Home

Yes you can buy a home with bad credit you just have to know how to go about it. For starters banks are not the only lending institutions out there. There are friends and family who often will have the resources to offer a person with bad credit a loan. They may only need to back a person with bad credit for a short period of time until they have their credit report back into the comfort zone of a bank or other lender. Try and find a banker you trust to get an exact estimate of your credit situation and how long it will take to qualify for a bank mortgage. Your credit history plays a key role in many aspects of your life, including the process of applying for a loan. Banks and Lenders will scrutinize your payment history on all of your previous loans, bankruptcy filings, and other financial history when deciding whether or not to approve your application. If the bank or lender isn't happy with your credit history, you might be required to make a larger initial deposit or be asked to settle for a higher interest rate to offset the risk - money talks. Bad credit home loans are geared to borrowers with less-than-perfect credit. You can choose cash-out refinancing, which will allow you to trade your existing mortgage for a new one and receive additional cash. Often homeowners use cash to eliminate higher-interest balances such as outstanding credit card accounts. You need to remember the money is drawn from your home equity and making a withdrawal will deplete your stake in the home investment. You need to think about improving your credit score where you can by paying off any credit cards and settling any loans you have outstanding, it will take time to improve your credit score, it can't be fixed in 24 hours. For a detailed picture of your finances, you need to request your credit scores from the three bureaus and see where you stand. Check your accounts for possible inaccuracies or signals of identity theft. Your efforts to secure a bad credit loan will certainly increases when you can see what your lenders see, at least this way you can spot the problem areas and act on them where possible.

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source: fastrealestate.net